As a new employee, you have a choice of two FRS retirement plans: the FRS Investment Plan and the FRS Pension Plan. Each Plan offers important benefits. The FRS Investment Plan may be better for a more mobile works because all contribution go into a portable individual account that you manage. You also qualify for a benefit after 1 year of service. Your benefit depends on how much money you and your employer contribute to you account on how well that money grows over time. You choose how to invest the money in your account.
The Pension Plan is a traditional retirment plan designed for longer-service employees. All contributions go into a single pension trust fund for all Pension Plan members. You qualify for a benefit after 8 years of service. This Plan pays a guaranteed lifetime monthly benfit using a formula based on your service and salary while you are working for an FRS-covered employer.
The Taylor County School District contributes the majority of your FRS retiemen plan savins. In addition, a mandatory 3% pretax contriubution is directed from your paycheck into your retirement account, regardless of the plan you choose.
FREE help is available...personalized for you
To learn more about your retirement plan options: Visit MyFRS.com and review the
"New Hire Roadmap"
Call the FRS toll-free: 1-866-446-9377 (TRS 711).
Select Option 1 to speak with an unbiased financial planner about both Plans.